Palo Alto Networks adopts executive CIC severance policy and amended bylaws

Palo Alto Networks Inc

New severance policy effective Aug 20, 2026; covers SVP+ who sign participation agreements.
Named execs: CEO Nikesh Arora, CFO Dipak Golechha, President BJ Jenkins, CPTO Lee Klarich.
Non-CIC termination: 100% salary severance, 12 months health, 12 months equity acceleration.
CIC termination: CEO gets 200% salary/incentive, 24 months health; other execs 150%, 18 months.
Bylaws amended Aug 20 to align with Delaware law; updates to stockholder meetings, quorum, indemnification.

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